Materials by tag Yuan

The Chinese Yuan has fallen to its lowest level in six years, forcing investors within the economy to move their money overseas. Bitcoin appears to have been a convenient method of transfer of value as speculators have also taken advantage of the prevailing demand for the cryptocurrency. This, according to experts, has given rise to the current surge in the price of Bitcoin.

In May 2016 Bitcoin’s price showed an increase of more than 18% and reached the high level of $540. This growth confirms demand for Bitcoin on the global financial market, as well as among ordinary users.